Tech stocks pressure Wall Street; Apple down ahead of event

(Reuters) - The Nasdaq fell on Wednesday, weighed down by a drop in Apple on fears of further regulation, while a rise in energy stocks and a report of fresh U.S.-China trade talks helped keep the S&P afloat and boost Dow Industrials.

Six major web and internet service companies, including Apple, are to detail their consumer data privacy practices to a U.S. Senate panel on Sept. 26, raising the specter of the possibility of stricter regulation.

Apple was down 1 percent, weighing the most on the three major indexes. The stock was trading higher premarket, ahead of an event at 1 p.m. ET (1700 GMT) where the company is expected to launch new iPhone models as well as upgrades of other products.

Twitter, Alphabet and Amazon.com, among the six companies to testify, were trading between flat and down 4.2 percent.

Facebook, not among the companies to testify, was down 2 percent. The S&P technology sector fell 0.64 percent.

Also helping was the energy sector, which jumped 0.70 percent as Brent crude price pushed above $80 a barrel due to growing concerns over global oil supply. [O/R]

At 12:41 a.m. ET the Dow Jones Industrial Average was up 91.95 points, or 0.35 percent, at 26,063.01, the S&P 500 was down 0.60 points, or 0.02 percent, at 2,887.29 and the Nasdaq Composite was down 38.20 points, or 0.48 percent, at 7,934.28.